Quickbooks Bank Reconciliation

In Quickbooks, the bank reconciliation opening balance no longer agrees with the balance of the same account in Quickbooks. I am not saying it does not match the bank statement, but that one place in Quickbooks (the check register) does not match another (the reconcilation function.)

How can I get the reconcilaition function back in sync? It is way off.

acctech1 is correct. You may have changed or added a transaction that was dated before the ending date of the previous rec. If you have audit trail turned on, you can run the audit trail report to see what has been changed after the rec.

If a cleared transaction was removed and/or replaced you will have to re-clear the new transactions entered.

Go to the Rec screen enter the correct beginning balance as the ending balance. Enter the statement date as the same as the last rec.(If the QuickBooks says 2/28/07 as the last rec date. Enter that as the date again.) Now "clear" the transactions you have entered in place of the ones you deleted. In theory these should all add up to the same amounts (Old transaction $ = New transaction $) Your "difference" should be 0 and you will be able to reconcile. The balance you put as the ending will become the beginning and you should be good to go.

If you deleted or changed transactions you will probably have to enter a j/e (dated in the month they were changed) with the difference of the balances. Then later (in the next month) create an adjusting j/e to clear it out.

All accounts are already correct. The only issue is that the "make deposits" function has lots of stuff in it.

Please note: I say again -- all GL accounts have the correct balances, including Undeposited Funds.

The procedure I am contemplating seems like it will do the following:

1. Get rid of the non-existent deposits by depositing into the new dummy account, thus making a large debit in the dummy account.
3. put a larege credit offset into undeposited funds.
4. The final manual AJE will clear the dummy account against undeposited funds, putting them both back to zero.

By Linda Saltz
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